When the Value of a Country's Exports Exceeds the Value

question 301

True/False

When the value of a country's exports exceeds the value of its imports, the country runs a trade deficit.

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Definitions:

Basis

The underlying support or foundation for an idea, argument, or process.

Sue

To initiate legal proceedings against an individual or entity in order to seek redress or enforce a right.

Uncertainty

A state or condition where outcomes, consequences, or future events are unpredictable or unknown.

Purchase

The act of acquiring goods or services in exchange for money or other valuable consideration.